Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1887-06-30
SOME SURPRISING FACTS.
The Appalling Ignorance of Women on the
Subject of Business Methods

The Appalling Ignorance of Women ON the
Subject of Business Methods.
Recently we have had another instance
of surprising credulity, or culpable
righteousness, or objectionable ignor
ance on the part of some women, says
the Christian Union. In 1881 Mrs.
Howe was sentenced to the Massachusetts
House of Correction for three years for
obtaining money under false pretenses.
The history of the case YVES published far
and wide. Mrs. Howe had established in
Boston the Ladies' Deposit Bank; she adj
vertlsed to pay per cent, on all depos--
its and three months interest in advnnce.
The very inducements should have warn
ed honest intelligent people, but they
did not. Even when an exposure was
made as to the system employed, women
still continued to deposit in the Ladies'
Deposit Bank, and when finally it reached
the only end possible to such methods,
SO depositors were left without their
funds, which amounted to $3.50, 499. The
trial and conviction of Mrs. Howe were
notorious facts; yet on her release, in
1884, che issued cards with her name and
statement-'$7 interest on 500 per
month, three months in advance;" and
| Immediately business was developed.
Now Mrs. Howe has disappeared with
| $4,000 belonging to her clients. How
can such childish faith or grasping after
Legitimate returns be accounted for? A
woman having the least knowledge of
| business must have known that it was
| impossible for such returns to be made
honestly. What reason could there be
| for one woman to realize on principal re-
| tr1rr, {ho{ %o1i Cd
vantage could not command? The very
abnormal returns were enough to stamp
the whole scheme as a swindle, but they
did not, and now number of women
are left penniless, to suffer more or less
because of blind, ignorant faith, or,
worse, grasping after dishonest returns.
The only thing that will save the future
| from witnessing the recurrence of such
scenes, under various guises, is to inGro-
duce into wOmens education practical
ideas of doing business. Scarcely a week
passes in which the courts do not hear
some tale of woe and wrong endured by
women because of their ignorant credul-
ity. A few weeks ago young woman
drew from the bank $500 and gave it to a
| young man to purchase a house, accept
ing as deed a receipt for premium paid
on life insurance policy of 500. She
saw the outside of the house which the
young man said her money had bought
and thought it was worth ten times the
money she had given him, and accepted
what he told her without question
Women sign papers that deprive them of
house, lands and money without investiga-
ton, and are amazed when they find them
selves penniless.
Not long ago a gentleman was leaving
home for business trip that would oc-
cupy several weeks. Before he started he
deposited in the bank a sum sufficient to
defray all necessary expenses, and quite
sum to meet any emergency that might
arise. He then gave a check-boo to his
wife, leaving home with the thought that
he had left every thing necessary for the
welfare of his family. When less than
half the time of his absence had expired,
his wife received notice from the bank
that there were no funds there to meet
her checks. In great Indignation and ex-
citment she went to the bank demanding
an explanation. cit could not be possible
that there were no funds, for there was
lois of leaves left in her check book p
Tae value of the remaining leaves was
finally explained to her.
! lady was in Europe educating her
! children. She wrote to her husband ask
ing for $4,000 to cover the expenses OF
a summer tour on the Continents; the hus-
band replied that he did not feel that he
could afford that amount of money. She
wrote back asking him why he did not get
letter of credit for that amount; to
which he again replied that he was not
able to afford that sum of money for
that purpose. When this letter reached
the wife she cabled, els not your credit
good for $1O,O0O?" showing her knowl-
edge and understanding of a letter of
credit.
/ The ignorance of women on the sub
| ject of business methods, of even the
terms used in business, is appalling, and
is the reason why women are the ready
dupes of swindlers and sharpers. Schools
do not supply this knowledge. Fathers,
brothers, husbands, should explain and
teach women the value of money, the i'm
mense power in the signing of name,
what makes the Investigating of money
in stocks, bonds Or real estate advanta-
geous or otherwise, and explain the use
of the technical terms used in the bust
ness world, if they would save those they
love from most notifying experiences,
if not cruel suffering.
Women should study these questions
| themselves. They are of vital impor-
lance to them, and ignorance does not
plead as an excuse for that which it is
their business to know, if they think
themselves responsible beings.